Welltower Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Welltower Inc (WELL). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | Q1 2025 | Q2 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Seniors Housing Operating | $1.86B 100.0% | $1.97B 100.0% | $2.78B 100.0% | $2.98B 100.0% |
| Triple-net | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Outpatient Medical | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | Q1 2025 | Q2 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Resident fees and services | $1.86B 100.0% | $1.97B 100.0% | $2.78B 100.0% | $2.98B 100.0% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Operating metrics
Operating metrics are the figures a company uses to measure its own business — customer counts, stores, deliveries or the churn rate. None of them appear in the financial statements, and they often explain earlier than revenue does why revenue is moving.
| Metric | Q2 2025 | Q3 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Total number of properties | 2,227 | 2,281 | 2,658 | 2,752 +23.6% |
| Number of Seniors Housing Operating properties | 1,221 | 1,244 | 1,810 | 1,869 +53.1% |
| Seniors Housing Operating same-store properties (QTD pool) | 673 | 763 | 921 | 980 +45.6% |
| Number of Triple-net properties | 636 | 667 | 780 | 829 +30.3% |
| Triple-net same-store properties (QTD pool) | 469 | 468 | 448 | 499 +6.4% |
| Ownership interest in Welltower OP | 99.7% | 99.7% | 98.2% | 98.1% -1.5% |
| Outpatient Medical same-store properties (QTD pool) | 417 | – | 86 | 89 -78.7% |
| Seniors Housing Operating average occupancy | 85.1% | 86.9% | 87.3% | 87.3% +2.6% |
| Number of Outpatient Medical properties | 370 | 370 | 68 | 54 -85.4% |
| Outstanding letters of credit | 19 | 17 | 23 | 33 +73.7% |
| Seniors Housing Operating construction projects in process | 25 | 22 | 47 | – |
These metrics are not part of the financial statements; they sit in the narrative text of the filings. We read them out of the SEC filings using artificial intelligence and check every single figure against the original passage in the report; anything that is not found there verbatim is discarded. Source: SEC EDGAR (annual and quarterly reports, 10-K/10-Q).
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: September 25, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.